Econ Comments & AnalysisWSJ | So Long Price-Earnings, Hello Price-Expectations
At the end of last week, major equity indexes including the S&P 500, the Stoxx Europe 600 and the MSCI Emerging Markets were up by about 15% from their early June lows, while the Dow Jones Industrial Average was up around 12.5%. Certain European bourses did even better, such as Spain's IBEX 35, which surged more than 30%.Trib Live | Beware some economic commentary
Economists have failed to communicate the basic insights of economics to the general public. So it’s unsurprising that public understanding in the 21st century of elementary truths of the economy is on par with public understanding in the ninth century of elementary truths of the solar system.

BlogsWSJ | Vital Signs Chart: Paychecks Losing Ground
Americans’ paychecks have lost ground in the recovery, one reason why consumption and consumer confidence are weak. Average hourly earnings were $19.80 in August, adjusted for inflation, the same as August 2011 and down slightly from the beginning of 2009. With unemployment falling but still high, employers can fill many jobs without raising salaries.

Econ Comments & AnalysisWSJ | Medicaid Is Broken—Let the States Fix It
Medicaid, America's safety-net program for more than 62 million low-income uninsured Americans, is broken. It's broken at the state level, where program costs are swamping state budgets. It's broken for federal taxpayers, as Medicaid waste, fraud and abuse drain tens of billions of dollars from federal coffers every year. And, most important, it's broken for the millions of families who can't find doctors willing to accept Medicaid's rock-bottom reimbursements.

Econ Comments & AnalysisThe American | How to Think about QE3
Alan Blinder, a prominent Democratic economist, once complained that when economists are in broad agreement with high confidence (on the issue of free trade, for example), they are never consulted. Instead, journalists and laymen ask economists to make pronouncements only on topics where there is little confidence and strong disagreement.

BlogsEconomist | Trickle-down central banking
How is bond-buying by the Federal Reserve supposed to help the real economy? Last week, my colleague and I debated the potency of monetary stimulus when household balance sheets were constrained. Instead of arguing in a vacuum, perhaps it would be better to ask Ben Bernanke, the Fed’s chairman, how he thinks the Fed is assisting the recovery.

Econ Comments & AnalysisWashington Times | Wanted: Tax reform Reagan would love
The tax code has become an object of ridicule — and intense scrutiny — for both political parties, just as it was in the 1980s. Then, as now, news stories about tax inequalities stirred public outrage. Closing special-interest loopholes was an obsession then, as it is now, as government officials scramble for revenue to avoid a fiscal cliff. FOX Business | Is it Time to Switch to a Consumption Tax?
The first presidential debate covered a topic dear to my heart: tax relief to Middle America. Both sides agree that something must be done, but they differ on the best way to provide relief.

NewsMarket Watch | Jobless claims plunge to four-year low
The number of U.S. workers who filed new applications for unemployment benefits dropped sharply, by 30,000, last week to 339,000, the lowest level in more than four years, the Labor Department reported Thursday in what may have been the result of a statistical fluke.Washington Times | Economy Briefs: Job openings dipped in August from July
U.S. employers advertised slightly fewer jobs in August than in July, while they filled the most positions in three months, offering a mixed signal on the job market.

Econ Comments & AnalysisReal Clear Markets | New BLS Data Add to Bad Labor Market Story
New employment data released Wednesday threw yet another grenade into the explosive controversy following last week's report on September unemployment numbers.

Econ Comments & AnalysisCBO | The Federal Budget Deficit Totaled $1.1 Trillion in 2012, CBO Estimates
The federal government’s fiscal year 2012 has come to a close, and CBO estimates—in its latest Monthly Budget Review—that the federal budget deficit for the year was about $1.1 trillion, or 7.0 percent of gross domestic product (GDP).Politico | No quick fix for our debt addiction
Many hoped to come away from the first presidential debate with renewed optimism for a solution to the fragile condition of our nation’s fiscal health. Unfortunately, I came away less optimistic.Washington Times | Obama’s fiscal failure is not debatable
The matchup between President Obama and Mitt Romney during their first debate could be summed up in simple terms as government versus the private sector. Mr. Romney, a successful businessman with a history of turning around failing companies, took Mr. Obama to task for increasing the country’s deficit and generally making our economic woes worse.

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This blog is a weekday economic buzz, news, opinions, blogs, research and data aggregated by the Joint Economic Committee, Republican staff. Disclaimer: The content posted here is provided for information uses only and should not be construed as the views of the Joint Economic Committee Republicans.